Top 45 Smart City Companies to Watch in 2025: Market Intelligence & Investment Trends (2024–2035)
RELEASE DATE: Aug 2025 Author: Spherical InsightsRequest Free Sample Speak to Analyst
Description
According to a research report published by Spherical Insights & Consulting, The Smart City Market Size is projected to Grow from USD 634.80 Billion in 2024 to USD 3295.40 Billion by 2035, at a CAGR of 16.15% during the forecast period 2025–2035. Opportunities in sustainable urban development, improved public services, effective resource management, and technical innovation through IoT, AI, and data analytics to enhance governance and quality of life are all provided by the Smart City Market.
Introduction
The economic ecosystem that includes services, solutions, and technology aimed at improving urban living through sustainable development and digital transformation is known as the "smart city market." It encompasses industries including energy, transportation, healthcare, government, and infrastructure, all of which are connected by cutting-edge technologies like cloud computing, big data analytics, artificial intelligence (AI), and the Internet of Things (IoT). By facilitating responsive urban management and intelligent decision-making, this market seeks to increase operational effectiveness, lessen its negative effects on the environment, and improve inhabitants' quality of life. Rapid urbanization is the main factor propelling the market's expansion, as it puts pressure on governments and local governments to implement effective and sustainable city planning strategies. Rapid urbanization and an increase in government activities are driving the rise, which calls for the use of IoT devices, sensors, and data analytics to enhance urban management. The market for smart cities is expected to increase due to a number of factors, including public safety concerns, the need for effective resource management and usage, growing urbanization, and the growing need for a healthy environment with efficient energy use.
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Smart City Market Size & Statistics
The Market Size for Smart City Was Estimated to be worth USD 634.80Billion in 2024.
The Market Size is Going to Expand at a CAGR of 16.15% between 2025 and 2035.
The Global Smart City Market Size is anticipated to reach USD 3295.40Billion by 2035.
North America is expected to generate the highest demand during the forecast period in the Smart City Market
Asia Pacific is expected to grow the fastest during the forecast period in the Smart City Market.
Regional growth and demand
Asia Pacific is expected to grow the fastest during the forecast period in the Smart City market. Asia-Pacific's smart city market is expanding and developing rapidly, with China, Japan, South Korea, India, and the rest of the region leading the way. Japan integrates smart grids, renewable energy, and real-time monitoring for resilient cities, emphasizing disaster management and energy efficiency.India, South Korea, Japan, and China are all actively working to create smart cities using cutting-edge technology.
North America is expected to generate the highest demand during the forecast period in the Smart City market. North America, which includes the United States, Canada, and Mexico, is a leader in urbanization and technical advancement. Rapid development and private sector investment are the main drivers of the region's quick adoption of Smart City Market solutions. The development of cutting-edge wireless protocols like 5G and Wi-Fi 6E is driving the expansion of the North American smart city market.
Top 10 trends in the Smart City Market
- AI-Driven Urban Mobility
- Smart Buildings & Infrastructure
- Mobility-as-a-Service (MaaS)
- Climate Mitigation Technologies
- Smart Waste Management
- Climate Mitigation Technologies
- Disaster Management Systems
- Citizen Engagement Platforms
- Urban Farming & Vertical Agriculture
- EV Infrastructure Expansion
1. AI-Driven Urban Mobility
The term "AI-Driven Urban Mobility" describes how artificial intelligence technologies are incorporated into urban transportation networks to improve sustainability, safety, and efficiency. Autonomous vehicle operations, predictive route planning, real-time traffic management, and customized public transportation experiences are all made possible by it. AI facilitates data-driven urban planning, eases traffic, and optimizes movement patterns.
2. Smart Buildings & Infrastructure
Smart buildings and infrastructure improve operational efficiency, energy management, and occupant comfort by leveraging cutting-edge technologies like IoT, AI, and data analytics. In contemporary metropolitan settings, these systems provide real-time lighting, HVAC, and security monitoring and automation, fostering sustainability, security, and productivity.
3. Mobility-as-a-Service (MaaS)
Mobility-as-a-Service (MaaS) combines many forms of mobility, such as ride-sharing, public transportation, and bike rentals, into a single digital platform for easy booking, planning, and payment. It encourages adaptable, user-focused mobility solutions that lessen dependency on private automobiles and improve the sustainability and efficiency of urban transportation.
4. Climate Mitigation Technologies
Climate mitigation technologies are cutting-edge approaches to improving carbon absorption and lowering greenhouse gas emissions. These include of carbon capture and storage, energy-efficient infrastructure, renewable energy sources, and environmentally friendly transportation. In order to reach net-zero goals and keep global warming below 2°C, such technologies are crucial.
5. Smart Waste Management
Smart Waste Management optimizes garbage collection, segregation, and disposal by utilizing technology like automation, data analytics, and Internet of Things sensors. It makes dynamic route planning, real-time bin fill level monitoring, and effective resource allocation possible, which lowers operating costs, lessens the impact on the environment, and improves urban sustainability and cleanliness.
Empower your strategic planning:
Stay informed with the latest industry insights and market trends to identify new opportunities and drive growth in the Smart City market. To explore more in-depth trends, insights, and forecasts, please refer to our detailed report.
Top 25 Companies Leading the Smart City Market
- Cisco Systems, Inc.
- Microsoft Corporation
- NEC Corporation
- Thermo Fisher Scientific
- International Business Machines Corporation (IBM)
- Huawei Technologies Co., Ltd.
- Siemens
- SAP SE
- Itron Inc
- ABB
- Oracle
- Quantela, Inc.
- TietoEVRY
- AT&T Inc.,
- General Electric
- Schneider Electric
- UrbanFootprint, Inc.
- Landauer, Inc.
- ALOKA Co., Ltd.
- Fuji Electric Co., Ltd.
- Mirion Technologies
- Honeywell International Inc
- Chiyoda Technol Corporation
- Telefonaktiebolaget LM Ericsson
- Hitachi High-Tech Corporation
1. Cisco Systems, Inc.
Headquarters: San Jose, California, USA
Cisco Systems, Inc. is a world leader in telecommunications equipment, networking hardware, and software. The business offers complete solutions for cloud computing, enterprise networking, data center infrastructure, and cybersecurity. Many sectors use Cisco's switches, routers, and collaboration platforms like Webex. Cisco keeps growing its presence in security and AI-powered network automation through strategic acquisitions like Splunk and Duo Security. The business is also essential to edge computing and 5G infrastructure. Cisco continues to be a key technology supplier for companies all around the world, with a particular emphasis on digital transformation and hybrid work solutions.
2. Microsoft Corporation
Headquarters: Redmond, Washington, USA
The multinational technology corporation Microsoft Corporation is well-known for its software products, which include Office 365, Windows, and the Azure cloud platform. Microsoft has a wide range of products, including Surface, Xbox, and LinkedIn gear, and is present in the consumer, gaming, and enterprise sectors. Azure is essential to digital infrastructure, big data, and artificial intelligence. Along with its security and compliance products, Microsoft is a pioneer in enterprise collaboration via Teams. Its innovation pipeline is further strengthened by strategic alliances and investments in OpenAI and other AI technologies. The business plays a significant role in facilitating the global digital transformation of several industries.
3. NEC Corporation
Headquarters: Tokyo, Japan
NEC Corporation is a global company based in Japan that specializes in electronics and information technology. The business offers integrated AI, 5G, biometric authentication, and public safety solutions. NEC offers cutting-edge ICT solutions, such as cloud services, data analytics, and cybersecurity platforms, to businesses, telecom providers, and governmental organizations. It is also widely used in facial recognition software and smart city infrastructure. NEC continues to propel innovation in fields like digital identity and quantum computing because to a solid R&D foundation. NEC is positioned as a reliable technology partner in both the public and commercial sectors thanks to its extensive government contracts and global expansion into digital transformation efforts.
4. Thermo Fisher Scientific Inc.
Headquarters: Waltham, Massachusetts, USA
Thermo Fisher Scientific is one of the top suppliers of scientific equipment, chemicals, software, and services worldwide. The business provides services to the government research, academic, biotechnology, and pharmaceutical industries. Laboratory Products & Biotech Services, Analytical Instruments, Specialty Diagnostics, and Life Sciences Solutions are some of its business divisions. With a particular emphasis on proteomics, cell and gene therapy, and genomics, Thermo Fisher is a key player in the advancement of scientific research and healthcare innovation. Additionally, it facilitates laboratory automation, clinical diagnostics, and vaccine development. The company's strong portfolio and acquisitions, including PPD and Qiagen, strengthen its position as a global leader in laboratory solutions and scientific innovation.
5. International Business Machines Corporation (IBM)
Headquarters: Armonk, New York, USA
IBM is a well-known multinational technology and consulting firm that leads the way in enterprise IT services, AI, and hybrid cloud. The business offers infrastructure, software, and consulting services to a range of sectors, including manufacturing, healthcare, and finance. Red Hat supports its hybrid cloud services, while IBM's Watson platform is the leader in AI capabilities. The company's focus has switched from hardware to cybersecurity, blockchain, quantum computing, and intelligent software. Many people use IBM's enterprise-grade products for data-driven decision-making and digital transformation. IBM's strategic reorganization and ongoing innovation guarantee that it will continue to play a significant role in facilitating intelligent, scalable business operations across the globe.
Are you ready to discover more about the Smart City market?
The report provides an in-depth analysis of the leading companies operating in the global Smart City market. It includes a comparative assessment based on their product portfolios, business overviews, geographical footprint, strategic initiatives, market segment share, and SWOT analysis. Each company is profiled using a standardized format that includes:
Company Profiles
- Cisco Systems, Inc.
- Business Overview
- Company Snapshot
- Products Overview
- Company Market Share Analysis
- Company Coverage Portfolio
- Financial Analysis
- Recent Developments
- Merger and Acquisitions
- SWOT Analysis
- Microsoft Corporation
- NEC Corporation
- Thermo Fisher Scientific
- International Business Machines Corporation (IBM)
- Huawei Technologies Co., Ltd.
- Siemens
- SAP SE
- Itron Inc
- Others
Conclusion
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